The approval or disapproval of a proposed spot Ether exchange-traded fund (ETF) by Invesco and Galaxy Digital has been delayed by the United States Securities and Exchange Commission (SEC).
According to a notice issued on Feb. 6, the SEC will institute proceedings to determine whether to approve or disapprove a rule change that would permit the Cboe BZX Exchange to list and trade shares of the proposed Invesco Galaxy Ethereum ETF.
The public can submit comments on this proposed investment vehicle, extending the deadline for a decision by 35 days upon its publication in the Federal Register.
The SEC has the authority to postpone the Invesco spot Ether ETF for a maximum of 240 days before making a final decision.
The asset manager submitted its proposal to the commission in October 2023, and if it is published in November, the SEC will have until July 2024 to approve or reject the ETF.
